The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1887-02-09
Rich Mems Habits.

Big cash balances are often cousroiiei
by people whom one wouid not expect 70
keep a great amount Of ready money on
hand. Around the Board of Trade it =
the gossip that one ofthe biggest halsnccs
= tept by a Young feilow who coup.e
IL years az, was Vorkinv in Armour Of
tee FIR - month He saved euou-h
20 ger q membership AMI bezan t-sdin-
IL the thouslrd- -busbei lot a-v6 g.
took the - ling side AMI =oon hasl enough
% bis credit 70 transfer his operations p.
the biz pix F. Il Hill -sH-t f.,a..lari,
EHe Ia th- pit Is nov the biggest
~alPer on the door He sells l00,00o
bushels Of wheat uow ~ nonch-iiantiy ~
he sold LOO bushels wh-n he begun
The gossip in the pit i that he has made
abou- S300000 and THAI he keeps an Of It
in,the bank ready 20 ne drawn dt no
meuts notice. Leopold Bloom, on the
other haud. i man who does not believe
in big balances. When he u,ts $1,000
together anywhere. whether az the Corn
Exchange Bank or IN the hands of bro
ker. or anybody else. he gets the curwu-
cy, buys property and puts Il in his wiie's
name Ten thousand = a sort Of a unit
with him Anv sam under that can De
unji-turbed. but he no sooner gets his
hand Oh that sum. or any multiple oft
twenty. thirty. or forty thouSlnd-then
he puts IL safely away.
When oh : If Thompson. the r-St8u-
rsteur. died. SI54.o00 in bills vas mund
packed away in his safety deposit vault
at the Illinois Trust aad safety pe5osit
Company's buiIiinE Thomp-ou could
not write. and II has always been suppos-
ej that TT Was the old @nf'-man'~ selsi-
ugene~S on this -core that caused him to
keep a great fortune ike this in green
backs. He could write check for one.
or two hundred. or any ZEN sum like
that but when it came t1- writing oIt
1sJ ssuus he was at a Joss. Hold Ta1mp-
son had invested his money be would
have leu probably s50Jl0o instead Of
$4,000.
Andrew Cummings. who was for SD
many wears in his employ, and who u-s
oJly taken into partnership few years
before bis Jeath. is supposed 90 be worth
100000 Thomp-ous restaurant mas al
WAYS had a charm for adies, amt has al
ways been the headquarters for e1ld wa
Ter ady1ea es- The oid gentleman did az
one time serve English ale, bot not ragI-
LlrIv- He never sold but one ease o.
wine In ala his career as d restaurant
keeper. The very day taa- he PUT This
wine ON the biH, Cummings. q EIm1ier.
came in and ordered bottle He drank
roo mucA. 90 into a wrangie with -he
dlrSey serving him. whipped oUt hisgu
and shot the waiter. The wine came
right of Thomp-ous list the very next
ily
But 70 get back to the topic Of big ball
aure~ a.a5n- Armour each morning has
a little ticket put on his desk whirh
shows the funds on deposit at Chicago,
Kansas City. View York and elsewhere
The writer has seen these figures when
the balances exceeded s200G000 Ar
m0ur's cash balances used o. be larger
than they are now. He invested IN St
Paul. and became a director there u.dn-
ly because be bad somuch funds tha; he
could not keep tbem well employed He
IS uov using s5,Gd0O0Ginca carrying So heat
Then there are the millions he has in st.
Paul and in his business. Armour does
not believe in keeping balances uuem-
ploved. Hutchinson bought and paid
for 10000 shares Of Northwestern COM
mon about 4 wear ago. and Is now said 20
own about 1900 He probably has
81 O0OOO0 ready money ali the time 40
his disposal Ez-le@ton. nneof the Board
Of Trade grain carriers, could probably
raise q great deal Of cash IN thirty min
utes. Ell Partridge must keep very
large cash balance. The amount kept
on deposit by Marshall Field $50. andJ.
y. FarweU * Co. must De something Ike
sIO00U00 for the former. ami S-50o00 for
the latter In the winter the packers
need big balances. The payroll Of the
big houses ont there run from $4,000 TO
100000 per week. and Armour pays for
cattle and hogs about $4,000 per week
iE the busy season Just think Of the
balances that business like that re-
quires.